Memorable AI Raises $2.75M in Pre-Seed Funding to Help Brands Analyze Visual Assets
Memorable AI, a company that develops brain-inspired deep learning models to predict the cognitive impact of videos and images, has raised $2.75 million in pre-seed funding led by LDV Capital with participation from TenOneTen Ventures, BDMI, AperiamVentures, and angel investors.
Big global advertisers like Unilever and L’Oréal use Memorable AI to analyze their visual assets and maximize the memorability, saliency and conversion potential of their advertisements.
Memorable AI’s Innovative Technology
The company’s technology forecasts if an image or video will garner attention from viewers, and whether it will stay in their minds. It also helps determine what audiences are likely to click on the advertisement. Following the upload of a creative, the platform informs predictions on all key marketing metrics related to branding and conversion.
Memorable AI is playing a key role for advertisers. Prior to the company’s innovations, brands would usually have to pay high costs for survey results of their advertisements almost ready to be published. On top of that, it usually takes weeks to receive them, and the process is often inaccurate.
The platform provides marketers with actionable insights based on the performance of the brand’s previous marketing campaigns and the best-performing ads published by their competitors in the same product category. Even small alterations, such as changing a product image size, can make a big difference in branding metrics. One of the main problems is that these alterations are often counterintuitive, so the platform offers a continuous tool that enables marketers to make data-driven decisions.
Memorable supports advertisers throughout the entire creative process. It provides intelligence technologies that enable them to produce the most impactful ads while minimizing risks.
Supported by Big Names
The company was launched toward the beginning of 2021, and it didn’t take long for major advertisers like Coca-Cola to begin using the technology to improve their marketing assets.
Many of the innovative solutions offered by the company can be attributed to co-founder Camilo Fosco, an MIT PhD candidate that has been researching human cognitive processes and machine learning for years.
Nathalie MacGill is Assistant Vice President and Media Strategist L’Oreal US.
“In seconds, Memorable’s AI analyze our ads and outputs recall, attention and conversion scores for any image or video. It also compares our ads to other similar products and predicts conversion. We are early supporters of this cutting-edge technology based on the latest developments in cognitive science. Memorable is a game changer for us,” MacGill says.
The team at Memorable continuously collects behavioral responses to visual stimuli through memory and attention games. It has a growing database of 10.2 million human observations, and its monthly growth rate is at 30%. The company has developed top deep-learning models for memorability, attention and performance.
Luciana Capozzoli is U-Studio Manager Global Foods & Refreshments at Unilever.
“Exponentially more visual distractions are competing for our customers’ attention every day. A limited number of ads are noticed and remembered. Very few of them trigger actions.” Capozzoli says. “The brilliant team at Memorial built technology that can actually predict conversion. Their software platform allows us to make accurate data-driven marketing decisions in just seconds. With each analysis and creative iteration, Unilever’s digital campaigns become more impactful and truly unforgettable!”
According to the company, its technology can significantly increase the ROI of marketing and media spending, and brands can annually save 16-25% of their advertising spend by powering marketing professionals with AI.
Sebastian Acevedo is the company’s Co-founder and CEO.
“The next decade of visual communications will be shaped by two major trends,” says Acevedo. “The first is a trend toward AI-tested, validated and generated creative content. The second is that the major major source of growth in AI performance will be a deeper understanding of the brain and the cognitive processes triggering reactions to visuals. Memorable is uniquely positioned to lead these trends to benefit its customers and deliver higher impact on branding and conversion.”
The new funds secured by the company will be used to help continue running multiple experiments based on the latest cognitive research and new machine learning approaches. It will also help accelerate growth of its cognitive impact database. The company is now looking to further advance its optimization technology for ad creative, helping advertisers raise their conversion performance and improve key branding metrics, such as recall and brand associates.